2023-10-27 05:46:37
▲ Financial Supervisory Service Commissioner Lee Bok-hyun is responding to the National Assembly Political Affairs Committee audit of the Financial Supervisory Service held at the Financial Supervisory Service in Yeouido, Seoul on the 17th. Yonhap News Agency Lee Bok-hyun, head of the Financial Supervisory Service, said on the 27th that the investigation into former Kakao Chairman Kim Beom-soo related to suspicions of SM Entertainment stock price manipulation was “progressing in accordance with procedures.”
In a comprehensive audit of the Political Affairs Committee held at the National Assembly on this day, Chairman Lee of the Financial Supervisory Service responded to a question from People’s Power Party Rep. Kang Min-guk regarding the results of the Financial Supervisory Service’s Capital Market Special Judicial Police (Special Investigation) summons and investigation of Kakao founder and former Chairman Kim as a suspect on the 23rd. We answered together.
Rep. Kang pointed out, “As Kakao expanded like an octopus, it reached its peak with allegations of stock price manipulation following management’s ‘scam’ of stop options and unfair practices through manipulation of taxi dispatch algorithms due to weak ethical awareness and limitations in internal control.” Rep. Kang criticized, “Kakao Bank is being singled out as the main culprit for worsening competition in the banking sector and household debt problems by excessively expanding safe and profitable home mortgage loans rather than lending to people with low to medium credit, which was the purpose of its establishment.”
Representative Kang said, “It is said that the intense investigation of (former Chairman Kim) for over 16 hours and disclosure to the media is very unusual since the establishment of the Financial Supervisory Service,” but pointed out that the financial authorities are still lacking in establishing order in the capital market.
Accordingly, Director Lee said, “I think the authorities need to make more efforts to restore trust for the development of the capital market,” and added, “Since the second half of last year, the Financial Services Commission, prosecutors, exchanges, and the Financial Supervisory Service have been reorganizing various systems and sharing necessary capabilities and information.” I’m doing it. “I will take good care of this so that it becomes established as a system,” he said.
The day before, the Financial Supervisory Service’s special envoy transferred five people, including Bae Jae-hyun, Kakao’s head of investment, as well as corporations Kakao and Kakao Entertainment, to the Seoul Southern District Prosecutors’ Office with a recommendation to indict them. Attention is also focused on the direction in which former Chairman Kim, who was summoned for investigation but was excluded from the transfer list, will be handled.
Director Lee “We are investigating the Mirae Asset financial accident”
Director Lee also said, “We are investigating the truth” regarding Mirae Asset Securities’ failure to report an incident related to personal account yield manipulation.
Hwang Un-ha, a member of the Democratic Party of Korea, pointed out that even though an accident worth 70 billion won occurred at Mirae Asset Securities, the Financial Supervisory Service did not receive a report on it. Mr. Yoon, who worked as a private banker (PB) at Mirae Asset Securities, is accused of embezzling 73.4 billion won by manipulating the assets of a venture capital company family by making it look like he had made profits from the fund, and taking out loans or trading stocks in the victim’s name to hide the losses. was arrested and indicted on the 10th.
Director Lee said, “We are starting an investigation to determine whether there was intentional or gross negligence in false reporting or omission of reporting, and are investigating whether it was a failure of internal control or a cover-up.”
Also, in response to a question regarding what sanctions will be imposed in case of failure to report, he said, “According to regulations, sanctions can be imposed for individual cases where there is evidence, but if there is no basis, sanctions are difficult, so we are mainly preparing measures to prevent recurrence in the future.” He added, “What parts are missing?” “We will report and prepare improvement measures,” he added.
Reporter Song Soo-yeon
1698389075
#Lee #Bokhyeon #Financial #Supervisory #Service #investigates #Kim #Beomsoo #suspicion #market #manipulation #Proceeding #procedures
